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MITIE Group PLC - FRC investigation - clarification

RNS Number : 9994W

MITIE Group PLC

20 November 2017

20 November 2017

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

FRC investigation - clarification

Earlier today the Financial Reporting Council (the "FRC") announced that it is to open an investigation under the Accountancy Scheme in relation to the preparation and approval of the financial statements for Mitie Group plc for the year ended 31 March 2016. Although the investigation is into Members (i.e. persons who are regulated by the FRC, including inter alia members of the Institute of Chartered Accountants in England and Wales) and not Mitie itself, the FRC's announcement failed to state this expressly, which has caused a number of market commentators to incorrectly assume that Mitie is being investigated.

We can confirm that this investigation is not into Mitie itself and that Mitie is not the subject of any new FRC investigation. We can further confirm that the investigation does not relate to any current directors of Mitie, any former non-executive directors of Mitie or Sandip Mahajan (who recently stepped down from his role as Group CFO).

Mitie is a FTSE 250 business providing a wide range of facilities management and professional services, from real estate consultancy, project management, energy consultancy, compliance, risk assessment and security systems to cleaning, catering, engineering, technical and environmental services and a range of specialist services.

We work in partnership with organisations to deliver long-term savings, managing and maintaining some of the nation's most recognised landmarks for a range of blue-chip public and private sector customers.

We are the UK's largest Facilities Management company employing some 53,000 people across the country.

Quick facts: MITIE Group PLC

Market: LSE

Market Cap: £296.41 m

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